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The Tokyo Stock Exchange is primarily owned and operated by the Japan Exchange Group (JPX) as a wholly owned subsidiary.
Answer: True
Explanation: The Tokyo Stock Exchange is indeed owned by the Japan Exchange Group (JPX) and operated by Tokyo Stock Exchange, Inc., a wholly owned subsidiary of JPX.
The Tokyo Stock Exchange is structured as a kabushiki gaisha and is governed by a board that includes nine directors, four auditors, and eight executive officers.
Answer: True
Explanation: The Tokyo Stock Exchange is incorporated as a kabushiki gaisha, and its governance structure includes nine directors, four auditors, and eight executive officers.
The headquarters of the Tokyo Stock Exchange are located in Osaka, Japan's second-largest financial district.
Answer: False
Explanation: The headquarters of the Tokyo Stock Exchange are located in Tokyo, at 2-1 Nihonbashi-Kabutochō, Chūō, which is recognized as Japan's largest financial district.
The Kabuto Club, the Tokyo Stock Exchange's press club, is most active during the summer months when public companies release their mid-year financial reports.
Answer: False
Explanation: The Kabuto Club is generally busiest during April and May, coinciding with the period when public companies typically release their annual financial accounts.
The Tokyo Stock Exchange has 94 domestic and 10 foreign securities companies participating in trading.
Answer: True
Explanation: Ninety-four domestic and 10 foreign securities companies actively participate in trading activities on the Tokyo Stock Exchange.
The Kabuto Club, the TSE's press club, meets on the first floor of the TSE building.
Answer: False
Explanation: The Kabuto Club, the Tokyo Stock Exchange's press club, meets on the third floor of the TSE building.
Taizo Nishimuro is listed as the President & CEO of the Tokyo Stock Exchange.
Answer: False
Explanation: Taizo Nishimuro is listed as the Chairman of the Tokyo Stock Exchange, while Atsushi Saito holds the position of President & CEO.
Which of the following is NOT a common abbreviation for the Tokyo Stock Exchange?
Answer: JPX
Explanation: Common abbreviations for the Tokyo Stock Exchange are Tosho, TSE, or TYO. JPX stands for Japan Exchange Group, which is the holding company that owns the TSE.
Who is the current owner of the Tokyo Stock Exchange?
Answer: Japan Exchange Group (JPX)
Explanation: The Tokyo Stock Exchange is owned by the Japan Exchange Group (JPX).
What type of company is the Tokyo Stock Exchange incorporated as in Japan?
Answer: Kabushiki Gaisha
Explanation: The Tokyo Stock Exchange is incorporated as a kabushiki gaisha, which is a type of joint-stock company in Japan.
Where are the headquarters of the Tokyo Stock Exchange located?
Answer: 2-1 Nihonbashi-Kabutochō, Chūō, Tokyo
Explanation: The headquarters of the Tokyo Stock Exchange are located at 2-1 Nihonbashi-Kabutochō, Chūō, Tokyo.
Who holds the position of Chairman for the Tokyo Stock Exchange?
Answer: Taizo Nishimuro
Explanation: Taizo Nishimuro is listed as the Chairman of the Tokyo Stock Exchange.
How many foreign securities companies participate in trading activities on the Tokyo Stock Exchange?
Answer: 10
Explanation: Ten foreign securities companies participate in trading activities on the Tokyo Stock Exchange.
What is the name of the Tokyo Stock Exchange's press club?
Answer: Kabuto Club
Explanation: The Tokyo Stock Exchange's press club is known as the Kabuto Club.
During which months is the Kabuto Club generally most active?
Answer: April and May
Explanation: The Kabuto Club is generally busiest during April and May, coinciding with the release of annual financial accounts by public companies.
Which of the following media organizations is typically affiliated with the Kabuto Club?
Answer: Bloomberg LP
Explanation: Bloomberg LP is listed as one of the major news outlets whose members are typically affiliated with the Kabuto Club.
The Japan Exchange Group (JPX) was formed in 2012 through the acquisition of Osaka Securities Exchange Co., Ltd. by the Tokyo Stock Exchange Group, Inc.
Answer: False
Explanation: The Japan Exchange Group (JPX) was formed through a merger, not an acquisition, and was officially launched on January 1, 2013, although the merger process began in July 2012.
The Tokyo Stock Exchange was originally established on May 15, 1878, under the name Tokyo Kabushiki Torihikijo.
Answer: True
Explanation: The Tokyo Stock Exchange was indeed established on May 15, 1878, with the name Tokyo Kabushiki Torihikijo.
Shibusawa Eiichi, a capitalist advocate, was a key figure in the establishment of the Tokyo Stock Exchange.
Answer: True
Explanation: Shibusawa Eiichi, along with Finance Minister Ōkuma Shigenobu, was a principal figure in the establishment of the Tokyo Stock Exchange.
The combined Japanese Stock Exchange was shut down in 1945, after the end of World War II.
Answer: False
Explanation: The combined Japanese Stock Exchange was shut down on August 1, 1945, which was before the official end of World War II (September 2, 1945).
The Tokyo Stock Exchange reopened after World War II on May 16, 1949, under the new Securities Exchange Act.
Answer: True
Explanation: The Tokyo Stock Exchange reopened on May 16, 1949, in accordance with the new Securities Exchange Act, following World War II.
Between 1983 and 1990, the Tokyo Stock Exchange briefly became the world's largest exchange, accounting for over 60% of global stock market capitalization.
Answer: True
Explanation: From 1983 to 1990, the Tokyo Stock Exchange indeed accounted for over 60% of the world's stock market capitalization, making it the largest exchange globally during that period.
The current Tokyo Stock Exchange building was opened in 1931, replacing an even older structure.
Answer: False
Explanation: The current Tokyo Stock Exchange building was opened on May 23, 1988, replacing the original building from 1931.
The Tokyo Stock Exchange transitioned to fully electronic trading by closing its trading floor on April 30, 1999.
Answer: True
Explanation: The trading floor of the Tokyo Stock Exchange was permanently closed on April 30, 1999, marking its complete transition to electronic trading for all transactions.
TSE Arrows, a new facility to support electronic trading, was launched in 2010.
Answer: False
Explanation: TSE Arrows was opened on May 9, 2000, to facilitate electronic trading operations. The Arrowhead trading facility was launched in 2010.
In 2001, the Tokyo Stock Exchange changed its corporate structure from a stock company to an incorporated association.
Answer: False
Explanation: In 2001, the Tokyo Stock Exchange restructured from an incorporated association (shadan hōjin) to a kabushiki gaisha (stock company).
The Tokyo Stock Exchange merged with eleven other Japanese stock exchanges in 1943 to form the Japanese Stock Exchange.
Answer: True
Explanation: In 1943, the Tokyo Stock Exchange merged with eleven other stock exchanges in major Japanese cities to form the Japanese Stock Exchange.
The Arrowhead trading facility was launched in 2000 to support electronic trading.
Answer: False
Explanation: The Arrowhead trading facility was launched in 2010. TSE Arrows, a different facility, was opened in 2000.
When was the Japan Exchange Group (JPX) officially launched?
Answer: January 1, 2013
Explanation: The Japan Exchange Group (JPX) was officially launched on January 1, 2013, following the merger approval in July 2012.
When was the Tokyo Stock Exchange originally established?
Answer: May 15, 1878
Explanation: The Tokyo Stock Exchange was originally established on May 15, 1878.
Who was the Finance Minister involved in the establishment of the Tokyo Stock Exchange?
Answer: Ōkuma Shigenobu
Explanation: Then-Finance Minister Ōkuma Shigenobu was a key figure in the establishment of the Tokyo Stock Exchange.
When did the combined Japanese Stock Exchange shut down during the prewar period?
Answer: August 1, 1945
Explanation: The combined Japanese Stock Exchange was shut down on August 1, 1945.
What was the significance of the Tokyo Stock Exchange's performance between 1983 and 1990?
Answer: It accounted for over 60% of the world's stock market capitalization, becoming the largest exchange.
Explanation: Between 1983 and 1990, the Tokyo Stock Exchange accounted for over 60% of the world's stock market capitalization, making it the largest exchange globally at that time.
When was the current Tokyo Stock Exchange building opened?
Answer: 1988
Explanation: The current Tokyo Stock Exchange building was opened on May 23, 1988.
When did the trading floor of the Tokyo Stock Exchange close, marking its complete transition to electronic trading?
Answer: April 30, 1999
Explanation: The trading floor of the Tokyo Stock Exchange closed on April 30, 1999, signifying its complete transition to electronic trading.
What new facility was opened on May 9, 2000, to facilitate electronic trading operations?
Answer: TSE Arrows
Explanation: TSE Arrows, a new facility, was opened on May 9, 2000, to facilitate the electronic trading operations of the Tokyo Stock Exchange.
In 2001, the Tokyo Stock Exchange restructured from an incorporated association to what type of company?
Answer: Kabushiki Gaisha (stock company)
Explanation: In 2001, the Tokyo Stock Exchange restructured from an incorporated association (shadan hōjin) to a kabushiki gaisha (stock company).
When did trading officially begin on the original Tokyo Stock Exchange?
Answer: June 1, 1878
Explanation: Official trading on the original Tokyo Stock Exchange commenced on June 1, 1878.
In what year did the Tokyo Stock Exchange launch its Arrowhead trading facility?
Answer: 2010
Explanation: The Tokyo Stock Exchange launched its Arrowhead trading facility in 2010.
The J30 index, one of the main indices tracking the Tokyo Stock Exchange, comprises companies selected by Japan's largest business newspaper.
Answer: False
Explanation: The Nikkei 225 index comprises companies selected by Japan's largest business newspaper (Nihon Keizai Shimbun), whereas the J30 index tracks large industrial companies and is maintained by Japan's major broadsheet newspapers.
The Tokyo Stock Exchange facilitates trading exclusively in stock markets, with no other financial instruments available.
Answer: False
Explanation: In addition to its stock market, the Tokyo Stock Exchange also features active bond market and futures market segments, allowing for trading in various financial instruments.
Normal trading sessions on the Tokyo Stock Exchange run from 9:00 a.m. to 3:30 p.m. on weekdays, with a one-hour lunch break.
Answer: True
Explanation: Normal trading sessions are from 9:00 a.m. to 11:30 a.m. and from 12:30 p.m. to 3:30 p.m. on weekdays, which includes a one-hour lunch break.
The Tokyo Stock Exchange uses the US Dollar for all trading activities.
Answer: False
Explanation: Trading on the Tokyo Stock Exchange is conducted using the Japanese yen, not the US Dollar.
The TOPIX index is based on the share prices of companies listed in the First Section of the old market structure.
Answer: False
Explanation: The TOPIX index is based on the share prices of Prime companies, which is a division under the new market structure, not the First Section of the old structure.
The Tokyo Stock Exchange observes a total of 10 holidays annually, leading to its closure.
Answer: False
Explanation: The Tokyo Stock Exchange observes more than 10 holidays annually, including numerous national holidays listed in the source material.
What currency is used for trading on the Tokyo Stock Exchange?
Answer: Japanese yen
Explanation: Trading on the Tokyo Stock Exchange is conducted using the Japanese yen.
Which of the following indices is based on the share prices of Prime companies on the Tokyo Stock Exchange?
Answer: TOPIX index
Explanation: The TOPIX index is specifically based on the share prices of Prime companies listed on the Tokyo Stock Exchange.
Besides stock markets, what other types of markets are active on the TSE?
Answer: Bond and futures market segments
Explanation: In addition to its stock market, the Tokyo Stock Exchange also features active bond market and futures market segments.
What are the normal morning trading hours for the Tokyo Stock Exchange?
Answer: 9:00 a.m. to 11:30 a.m.
Explanation: The normal morning trading hours for the Tokyo Stock Exchange are from 9:00 a.m. to 11:30 a.m.
Which of the following holidays does the Tokyo Stock Exchange NOT observe?
Answer: Christmas Day
Explanation: The Tokyo Stock Exchange observes numerous Japanese national holidays, but Christmas Day is not listed among them.
As of September 2024, the Tokyo Stock Exchange listed over 3,900 companies with a market capitalization exceeding $6 trillion.
Answer: True
Explanation: As of September 2024, the Tokyo Stock Exchange listed 3,953 companies with a total market capitalization of ¥973.4 trillion, equivalent to $6.93 trillion, which is indeed over $6 trillion.
Prior to April 4, 2022, the Tokyo Stock Exchange had a single 'Main Market' section for all listed companies.
Answer: False
Explanation: Prior to April 4, 2022, the Tokyo Stock Exchange had five distinct market sections, not a single 'Main Market' section for all companies.
JASDAQ was established in 1991 and became part of the Tokyo Stock Exchange in 2013 after being acquired by the Osaka Stock Exchange.
Answer: True
Explanation: JASDAQ was established in 1991, acquired by the Osaka Stock Exchange in 2010, and subsequently absorbed into the Tokyo Stock Exchange in 2013.
The TOKYO PRO Market was established in 2009 as a joint venture with the New York Stock Exchange, targeting small companies.
Answer: False
Explanation: The TOKYO PRO Market was established in 2009 as a joint venture with the London Stock Exchange, not the New York Stock Exchange.
As of March 31, 2022, the Tokyo Stock Exchange listed a total of 3,821 companies across all its market sections.
Answer: True
Explanation: As of March 31, 2022, the Tokyo Stock Exchange indeed listed a total of 3,821 companies across its various market sections.
The new market divisions introduced on April 4, 2022, are named Prime, Standard, and Growth, replacing the previous five sections.
Answer: True
Explanation: Effective April 4, 2022, the Tokyo Stock Exchange reorganized its market divisions into the Prime, Standard, and Growth markets, replacing the former five sections.
Companies were assigned to the new market divisions by the Tokyo Stock Exchange based on their market capitalization, without voluntary selection.
Answer: False
Explanation: Companies voluntarily selected their new market divisions between September and December 2021, and the assignments were not solely based on market capitalization by the exchange.
All companies from the former Second Section transitioned into the new Prime market.
Answer: False
Explanation: All 474 companies previously in the Second Section transitioned into the Standard market, not the Prime market.
Mothers, an emerging companies market, was established at the TSE in 1999.
Answer: True
Explanation: Mothers, which stands for 'Market of the high-growth and emerging stocks,' was indeed established at the TSE in 1999.
As of August 21, 2023, the Prime Market listed 1,834 companies, including one overseas company.
Answer: True
Explanation: As of August 21, 2023, the Prime Market listed 1,834 companies, including one overseas company, under the new market structure.
As of September 2024, approximately how many companies were listed on the Tokyo Stock Exchange?
Answer: Over 3,900
Explanation: As of September 2024, there were 3,953 companies listed on the Tokyo Stock Exchange, which is over 3,900.
Which market section was specifically for emerging companies prior to April 4, 2022?
Answer: JASDAQ and Mothers
Explanation: Prior to April 4, 2022, JASDAQ and Mothers were the market sections specifically designated for emerging companies.
When was Mothers (Market of the high-growth and emerging stocks) established at the TSE?
Answer: 1999
Explanation: Mothers, the market for high-growth and emerging stocks, was established at the Tokyo Stock Exchange in 1999.
The TOKYO PRO Market was established in 2009 jointly with which other stock exchange?
Answer: London Stock Exchange
Explanation: The TOKYO PRO Market was established in 2009 as a joint venture with the London Stock Exchange.
How many companies were listed across all sections of the Tokyo Stock Exchange as of March 31, 2022?
Answer: 3,821
Explanation: As of March 31, 2022, a total of 3,821 companies were listed across all sections of the Tokyo Stock Exchange.
Which of the following is NOT one of the new market divisions introduced by the Tokyo Stock Exchange starting April 4, 2022?
Answer: First Section
Explanation: The new market divisions introduced on April 4, 2022, are Prime, Standard, and Growth. The First Section was part of the old market structure.
What criteria differentiate the new market divisions (Prime, Standard, Growth)?
Answer: Market liquidity, corporate governance standards, and other specific requirements
Explanation: The new market divisions (Prime, Standard, and Growth) are differentiated by specific criteria such as market liquidity, corporate governance standards, and other defined requirements.
How many companies from the former First Section transitioned into the new Prime market?
Answer: 1,841
Explanation: From the former First Section, 1,841 companies transitioned into the new Prime market.
As of August 21, 2023, how many companies were listed in the Standard Market under the new market structure?
Answer: 1,440
Explanation: As of August 21, 2023, the Standard Market listed 1,440 companies under the new market structure.
How many companies from the Second Section transitioned into the new Standard market?
Answer: 474
Explanation: All 474 companies previously in the Second Section transitioned into the new Standard market.
What was the total number of companies listed on the Tokyo Stock Exchange as of August 21, 2023, under the new market structure?
Answer: 3,899
Explanation: As of August 21, 2023, the Tokyo Stock Exchange listed a total of 3,899 companies under its new market division structure.
Which of the following was NOT a market section of the Tokyo Stock Exchange prior to April 4, 2022?
Answer: Prime Market
Explanation: The Prime Market is one of the new market divisions introduced on April 4, 2022, and was not a section prior to that date. The First Section, JASDAQ, and Mothers were all part of the old structure.
A technology problem on November 1, 2005, caused the Tokyo Stock Exchange to operate for only 90 minutes due to a bug in a new transaction system.
Answer: True
Explanation: On November 1, 2005, the exchange operated for only 90 minutes due to critical bugs in a newly installed transaction system developed by Fujitsu.
The UBS Warburg trading error during the Dentsu IPO in 2001 involved selling 610,000 shares at ¥600,000 each instead of 16 shares at ¥6.
Answer: False
Explanation: The UBS Warburg error involved mistakenly selling 610,000 shares at ¥6 each, when the intention was to sell 16 shares at ¥600,000.
The Mizuho Securities trading error in 2005 resulted in a net loss of US$347 million, shared between Mizuho and the Tokyo Stock Exchange.
Answer: True
Explanation: The Mizuho Securities trading error in December 2005 led to a net loss of US$347 million, which was shared between the exchange and Mizuho.
Following the Mizuho affair, the Tokyo Stock Exchange's chief executive and other senior executives resigned after the system was found to be at fault.
Answer: True
Explanation: After the Tokyo Stock Exchange acknowledged its system's fault in the Mizuho affair, the chief executive and two other senior executives resigned.
The 'livedoor shock' in January 2006 led to a temporary suspension of trading due to a network issue, similar to the 2020 outage.
Answer: False
Explanation: The 'livedoor shock' caused a trading suspension because the trade volume threatened to exceed the computer system's capacity, not primarily due to a network issue similar to the 2020 outage.
A gateway outage on October 9, 2018, was caused by Merrill Lynch Japan Securities attempting to establish a second connection when one was already active.
Answer: True
Explanation: The gateway outage on October 9, 2018, was indeed caused by Merrill Lynch Japan Securities erroneously attempting to establish a second connection.
The full-day trading suspension on October 1, 2020, was the first in the Tokyo Stock Exchange's history, even including its pre-electronic era.
Answer: False
Explanation: The full-day trading suspension on October 1, 2020, was the first for the Tokyo Stock Exchange as an all-electronic exchange, implying there were previous suspensions in its pre-electronic history.
The 2020 trading suspension was caused by a mechanical failure in the 'Arrowhead' trading system and a network issue, preventing failover to backup hardware.
Answer: True
Explanation: The 2020 trading suspension was attributed to a network issue and a mechanical failure in the 'Arrowhead' trading system, which collectively prevented a failover to backup hardware.
The 2005 technology problem, caused by Fujitsu's new system, was the worst in the exchange's history until the 2020 outage.
Answer: True
Explanation: The technology problem on November 1, 2005, caused by bugs in a new Fujitsu system, was indeed described as the worst in the exchange's history until the October 1, 2020, outage.
The Mizuho Securities error involved selling 600,000 shares at ¥600,000 each instead of 1 share at ¥1.
Answer: False
Explanation: The Mizuho Securities error involved mistakenly typing an order to sell 600,000 shares at ¥1 each, instead of the correct order to sell 1 share at ¥600,000.
The 'livedoor shock' caused the Nikkei 225 to fall by 2.8% on January 17, 2006, following a raid on livedoor.
Answer: True
Explanation: Following a raid on the internet company livedoor, the Nikkei 225 did fall by 2.8% on January 17, 2006, as part of the 'livedoor shock'.
The 2018 gateway outage primarily affected only Merrill Lynch Japan Securities, which caused the problem.
Answer: False
Explanation: While Merrill Lynch Japan Securities caused the problem, the 2018 gateway outage caused delays for many securities firms, including Daiwa Securities and Nomura, not just Merrill Lynch.
The 2020 full-day trading suspension also affected regional exchanges in Japan that utilized the same technology platform.
Answer: True
Explanation: The 2020 outage indeed affected regional exchanges in Japan that utilized the same technology platform as the Tokyo Stock Exchange.
What was the primary cause of the technology problem on November 1, 2005, that limited trading to 90 minutes?
Answer: Bugs in a newly installed transaction system developed by Fujitsu.
Explanation: The technology problem on November 1, 2005, was caused by critical bugs in a newly installed transaction system developed by Fujitsu.
During the Dentsu IPO in December 2001, what was the nature of the UBS Warburg trading error?
Answer: A trader mistakenly sold 610,000 shares at ¥6 each instead of 16 shares at ¥600,000.
Explanation: The UBS Warburg trading error involved a trader mistakenly selling 610,000 shares at ¥6 each, when the intention was to sell 16 shares at ¥600,000.
What was the net loss shared between the Tokyo Stock Exchange and Mizuho Securities following the J-Com IPO trading error in December 2005?
Answer: US$347 million
Explanation: The net loss shared between the Tokyo Stock Exchange and Mizuho Securities following the J-Com IPO trading error was US$347 million.
What was a direct consequence for the Tokyo Stock Exchange leadership following the Mizuho affair in December 2005?
Answer: The chief executive and two other senior executives resigned.
Explanation: Following the Mizuho affair, the chief executive and two other senior executives of the Tokyo Stock Exchange resigned.
What caused the Tokyo Stock Exchange to suspend trading 20 minutes before closing on January 18, 2006, during the 'livedoor shock'?
Answer: The trade volume threatened to exceed its computer system's capacity.
Explanation: During the 'livedoor shock' on January 18, 2006, trading was suspended because the trade volume threatened to exceed the Tokyo Stock Exchange's computer system's capacity.
What was the primary reason for the Tokyo Stock Exchange's first-ever full-day trading suspension as an all-electronic exchange on October 1, 2020?
Answer: A network issue and mechanical failure preventing failover to backup hardware.
Explanation: The full-day trading suspension on October 1, 2020, was caused by a network issue and a mechanical failure in the 'Arrowhead' trading system, which prevented failover to backup hardware.
The Tokyo Stock Exchange acquired a significant stake in the Singapore Exchange Ltd. in 2007 as part of an international collaboration strategy.
Answer: True
Explanation: On June 15, 2007, the Tokyo Stock Exchange acquired a 4.99% stake in Singapore Exchange Ltd. for $303 million, indicating a strategic international collaboration.
The Tokyo AIM, a joint venture market, was modeled after the London Stock Exchange's Alternative Investment Market.
Answer: True
Explanation: The Tokyo AIM, a joint venture market established in 2008, was indeed modeled after the London Stock Exchange's Alternative Investment Market.
What strategic investment did the Tokyo Stock Exchange make on June 15, 2007?
Answer: Acquired a 4.99% stake in Singapore Exchange Ltd.
Explanation: On June 15, 2007, the Tokyo Stock Exchange acquired a 4.99% stake in Singapore Exchange Ltd. for $303 million.